The infrastructure arm of the billionaire Aboitiz family’s Aboitiz Equity Ventures won its third airport management contract, expanding their footprint across the Philippines amid a travel boom.
Aboitiz InfraCapital won a 30-year contract to upgrade and run an international airport on Panglao Island in the central Philippine province of Bohol, one of the country’s tourism hot spots. It will spend 4.5 billion pesos ($77 million) to upgrade the airport.
The company will start upgrading works on the airport next year and aims to boost the facility’s annual passenger handling capacity by 25% to 2.5 million within a year or two years and further to 3.9
The infrastructure arm of the billionaire Aboitiz family’s Aboitiz Equity Ventures won its third airport management contract, expanding their footprint across the Philippines amid a travel boom.
Source: Billionaire Aboitiz Family Spreads Wings With Third Philippine Airport Concession
